Picton Mahoney Asset Management Has $14.30 Million Stock Holdings in SL Green Realty Corporation $SLG

Picton Mahoney Asset Management increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 218.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 239,012 shares of the real estate investment trust’s stock after purchasing an additional 163,903 shares during the quarter. Picton Mahoney Asset Management’s holdings in SL Green Realty were worth $14,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd grew its stake in SL Green Realty by 282.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust’s stock valued at $3,169,000 after acquiring an additional 39,135 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of SL Green Realty during the second quarter worth approximately $12,841,000. Greenland Capital Management LP purchased a new position in SL Green Realty during the second quarter valued at approximately $4,176,000. Prudential Financial Inc. increased its stake in SL Green Realty by 104.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock valued at $100,439,000 after buying an additional 827,407 shares during the period. Finally, Strs Ohio lifted its position in SL Green Realty by 78.6% in the 3rd quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock worth $8,302,000 after buying an additional 61,100 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLG. Truist Financial set a $44.00 price target on shares of SL Green Realty in a report on Tuesday, February 3rd. UBS Group set a $61.00 target price on SL Green Realty in a research report on Wednesday, January 14th. The Goldman Sachs Group set a $37.00 price target on SL Green Realty and gave the company a “sell” rating in a report on Friday, February 6th. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.80.

SL Green Realty Stock Performance

SLG opened at $41.00 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $2.92 billion, a PE ratio of -25.47 and a beta of 1.66. The stock has a 50-day moving average of $43.74 and a 200-day moving average of $49.73. SL Green Realty Corporation has a 52-week low of $35.03 and a 52-week high of $66.91.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The firm had revenue of $159.82 million during the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. As a group, equities research analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SL Green Realty news, CEO Marc Holliday sold 22,223 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the transaction, the chief executive officer owned 9,698 shares of the company’s stock, valued at $430,591.20. The trade was a 69.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew S. Levine sold 1,493 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the sale, the insider directly owned 7,045 shares in the company, valued at approximately $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.04% of the stock is currently owned by insiders.

SL Green Realty Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.